In a society in which everyone lives at the subsistence level, the Gini coefficient is 0.
Answer the following statement true (T) or false (F)
True
Rationale: Such a society would have perfect equality -- implying the Lorenz curve lies on the 45 degree line.
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Goods are ________ when the income elasticity of demand is positive
A) complements B) elastic C) inferior D) substitutes E) normal
The U.S. financial system is a(n) __________ system
A) markets-oriented B) angel financing C) banking-oriented D) loan committee
Complete the following sentence. In an expansion, typically
A) unemployment increases. B) the labour force participation rate increases. C) the employment-to-population ratio decreases. D) employment decreases. E) both B and D are correct.
Payments to households not in exchange for goods and services currently produced are:
A. transfer payments. B. government purchases. C. consumption expenditures. D. investment expenditures.